US Home Price Jump 0.5% in May

Prices for single-family homes rose half a percent in May according to the latest Standard & Poor’s/Case Shiller home index survey. The results, based on an examination of home prices in twenty US cities, showed a greater-than-expected 0.2 percent increase.

“While May’s report on its own looks somewhat positive, a broader look at home price levels over the past year still does not indicate that the housing market is in any form of sustained recovery,” David M. Blitzer, chairman of the Index Committee at Standard & Poor’s, said in a statement.

Source: Reuters

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